tv Lou Dobbs Tonight FOX Business March 28, 2013 10:00pm-11:00pm EDT
energy, it is if we have cheap energy. john: thank you for that unconventional wisdom. that is our show, thank you for watching, we will see you next week. night. we will see becker tomorrow. ♪ lou: pier leaving, everybody, and thank you for joining us. a record day on wall street. and because tomorrow is good friday, this the last trading day of the week, the month, and the end of the first quarter. but the dow jones industrial average and standard and poor's 500 setting record highs. the s&p setting a new all-time record high. close of 1569, topping the previous record set before the financial crisis by more than four points. the s&p has no more than doubled from its low point of 67653 said back on march 19th 2009.
from that low, four years ago, market capitalization has soared from under $6 trillion to jus under $14 trillion today. and that do jones indtrial setting another record high close. its tenth record high already this year. the dow today up 52 points, finishing at 14,578, clearing by nearly 20 points its previous record set just last tuesday. the dow jones industrial is having a record quarter as well, gaining nearly9 points since the beginning of the year. representing the largest point gain in any quarter in the dow history. the nasdaq, meanwhile, picking up another 11 points today, settling for a new 52 week high, far from record lows. the total market capitalization of the market, the wilshire 5,000, has risen by one him get this, almost $2 trillion
just this year. adding 117 trillion since the low four years ago, quite a rebound to say the least. wall street veteran fund manager strategist rbis and has maintained throughout that the market would move higher. tonight we will bealking with him about what the future holds. also, president obama welcoming the mayor blumberg's multimillion-dollar gun-control crusade to the whiteouse today congressman mike kelly is not pleased by anti second amendment initiatives of the president or michael bloomberg. he joins us for a discussion of that and the stalled you inrms trade treaty. also tonight, the revelations out who knew what regarding the mental state of mass murderers before they went on theirir murderous rampages. mental health experts and psychologists, dr. robert ludwig and dr. jeffrey guard air in the
"lou dobbs forum" tonight. president obama is trying to shame, and the -- congress into passing stricter gun-control laws flanked by famies of victims of gun violence. the president to the press for stronger background checks on the same day theyalled for a national day to demand action, as they put it. the president avoided references to an assault weapons ban that has little chance of passage in the senate or house. fox news chief white house correspondent ed henry reports. ♪ >> shame on us if we have forgotten. i have not forgotten those kids. >> with families of gun violence victimsighting backears, president obama invoke the tragedy of newtown to try and vive a sagging effort to pass a series of gun-control items from a ban on assault weapons to a push for universal background checks.
>> why would we want to close the loophole that allows as many as 40 percent of all gun purchases to take place without a background check. >> the president focusing his trip to denver nextednesday on the far more popular back projects, leaving aiies on the fence about wheth he is abandoning the push to ban assault weapons. >> the president remains firmly behind the range of legislative proposals that he offered up in mid january when he gave up some remarks on this issue. >> the public is not as firmly behind the assault weapons ban and the there are several key senate democrats including majority leader harry reid. of the republican side effor to block the legislation been based in. : when a rising star marco rubio revealed he will join a planned filibuster by three of his colleagues against the democratic plan. >> they want to ban some 4 million guns that law-abiding americans such as to use to protect their homes. >> the national rifle association stepped up its
pushed back by saying the economy is weak. national debt is mounting. to many americans are out of work, but obama campaign against gun step please the french. the commerce department reported the economy grew slightly faster at the end of last year than originally reported, yet the. 4 percent growth rate was the weakest quarterly performance in nearly two years. and with budget talks stalled and immigration reform facing an uncertain fate, the president needs a victory and guns. he could gain momentum as new details emerge from investigators in connecticut about how suspect adam lands i got off 154 bullets in less than five months. the new ad featuring families of some victims of that tragedy bankrolled by wealthy new york city mayor michael bloomberg. >> to let the memory of newtown fade without doing something real. >> all of the white house is facing questions of why more than 100 days have passed without legislative action. >> i don't know why.
again, i don't think it is taking a very long. piercing a president who is engaged in this process from the very beginning. as demonstrators sustain levels of engagement. >> the president did take 23 separate executive actions on gun-control, but as far that sustained effort an engagement that they're talking about, next wednesday ter going to denver the president will be going out to california, back on the campaign trail raising money for house emocrats. lou: the important work, i suppose. thank you so muc appreciate it. fox's chief white house correspondent. the final draft blocked for now, ironically enough to comes after the iranian, syrian, an austrian
contingent on how they cannot support a consensus for the street. our next guest has been leading the fight against the treaty on capitol hill. he maintains that the arms trade treaty not only places democracies and dictatorships on the same footing, it fails to recognize the inherent individual right of u.s. citizens to keep and bear arms. joining us now, congressman mike kelly, a member of the house ways and means committee. lining up against this treaty. >> we l.a. defend freedom and liberty. one of the greatest in the history of the world. why would we get to the table with folks like this to come up with n arms trade policy. this makes no sense to me.
all the people back home that i represent. they're asking why. why mr. president, why now, why ever would you put our policy at a table to be negotiated with people like that. makes sense. lou: an overwhelming irony here that is irresistible. you have to take note. i mean, in this instance t president has actually been put into a subordinate position by iran and north korea and syria on the issue of defending american citizens second amendment rights. and that is a preposterou position for him to put himself in. >> preposterous, but we are starting to learn as a people now, four years of this. for present is that this would be clear and transparent, there nothing murkier than the way this administration works. alan the world can we turn our back on that those rights that were enshrined in our bill of rights by the fnders.
the right to keep and bear arms. my goodness. why did we put that on the table in the beginning? why would we get to the table with bad actor and give these pirates and dictators the same voice that the united states of america has. does not make sense. >> t president today, dramatically, he just wants to shame us all into doing what he wants, that is, rolling back our second amorites. your reaction to that statement. >> the american people need to shame them into following the constitution. this person as what he is talking about. he knows how the game is played. the people of this country, and this has nothing to do with republicans or democrats are libertarians are independents but red blooded americans. these are rights that are enshrined. a gift to us by the founders. i'm sitting back now and i have only been in congress for two years. watching what is going on here. we cannot keep seating our sovereignty of other people around the world. not the united states of america, not the greatest offender personal freedom and liberty that the world has ever
known. and i just say, this president has a different view of american and may be your idea or the people that represent. he took this global vision that makes absolutely no sense to me. lou: ask you this because you talk about his vision, you talk about his relationship with the constitution, whether he was a lecturer on constitutional law or not, the university of chicago law school, the fact of the matter is the man has been misrepresenting truth. he has said that on obamacare, premiums would not go up. the costf health care would decline, that we could keep our doctors. we could keep our health care plans. turns out none of that is tru on the second amendnt he is talking, it is bizarre that there is no accountability for this a ministration on simple uth and the facts.
>> the people have an opportunity to peaceably assemble competition their government for redress of grievance. we started something called2 petition that. american citizens can go and practice their first amendment rights, go to that site, register your feelings on it, and will give that to the president. he is got to start paying attention to the people of the unitedtates. i am astounded that people are not rising and saying more about it. people are listening. much more on the assault on the second amendment. but talking about that. and the united nations arms reader of this broadcast. stay with us. misrepresentation, propaganda, outright lies. but the tru lives here. we have some facts that the anti-gun faction does not want
you to know. that is in tonight's clk talk. more records set on wall street today. the market still climbing. wall street veteran harvey eisen tells us what is next. ♪ dad, i'd put that down. ah. 4g, huh? verizon 4g lte. 700 megahertz spectrum, end-to-end, pure lte build. the most consistent speeds indoors or out. and, obviously, astonishing throughput. obviously... you know how fast our home wifi is? yeah. this is basically just asast. oh. and verizon's got more fast lte coverage than all other networks combined. it's better. yes. oh, why didn't you just say that? huh-- what is he doing?
♪ lou: the s&p 500 setting a new record high. the market index finally catching up with the dow record-setting performance of the year. and wall street veteran harvey eisen will join us to tell us whether thisally is -- well, at what point are we and what will the future hold for some wall street? key will be -- want to take all of that up and more. but santa the market performance. the s&p 500 setting a new
all-time record high. its first record of the year for the dow. the index setting its tenth record of the year. the wililshire 5,000 also closig a record. the 16th of the year. the dow up 52 points today. the new record, 14578. the s&p 500 up six points. its best close since october 19th 2007. the new closing record, 1569. the nasdaq up 11 points. we will talk about those records later. volume on the big board picking a bit. dow posting its second-best quarter ever in percentage terms, up 11 1/4%. the s&p up just over 10 percent, its best quarter since the first quarter of last year. a lot of rords in sorting out. the nasdaq up about eight 1/4%. also its best quarter since the first quarter of, you got it, last year.
the top five performers in the s&p posting some very impressive gains. none more impressive than netflix which rose more than 104%. i bet you like many people think , why didn't i buy that stock a number of times? the thought has occurred to me as well. and the commodity market chemical losing 11 and a half dollars today. rising above $97 per barrel. the crude oil metric up 541. in that credit market, the ten year treasury and change, they yield 185, 185. 176 back at the beginning of the year. president obama's epa pushing ahead with new regulations that will require cleaner gasoline beginning tomorrow. in so doing, the epa will ignore the protest of republicans, conservative democrats, the auto industry. if you want to know the likely
impact with no further than california. the national average of gasoline is 365 now. that is the aaa average, but the average price in california is much higher. $4.5 a gallon is the highest price in the country. why so? federal and state taxes having $0.67 per gallon there. what is really adding t the price in california, the state has the strictest set of regulations for gasoline in the country. my next guest says investor confidence is improving, and why not. with a of these records. it remains fragile as the markets continued their record run, joining us noww. harvey eisen, chairman of wright innestors' service holdings. good to have you here. >> good to be here. and from the best of reasons you know what you were talking about. tell us your judgment, what is happening now. looks like we're going to see
some tests. people were screaming. i tell -- i called in the cnbc shorts. there were just having a lot of fun with cyprus and its bank, bank brouhaha. crazy stuff. and the shorts did not prevail. it's so sad. your thoughts? >> the market has gone up, as you pointe out. from the bottom in march of 09 for four years in a row. this happened six times before. every time the fifth year has been up. now, that's predict the market. first quarter was up 11%. let's multiplied by four. the year is going to be up 44%. no problem. lou: that may write that down. 44 percent, and that levees to amputation is that i can even do. a little simple multiplication.
what possible -- and i know this is all but unthinkable, what possible impediments are there to the market achieving your lofty levels in your forecast? >> well, numbeone, the lofty levels are a joke. number two, the same thing happened last year. the same thing happened a year before. so my best, yes. based on doing this for a long time -- lou: one of the few people on wall street to guesses. most of the other folks with absolute certainty. >> look, the market is going to take arrest. it will happen when it happens. opinion follows friend. in 2008 we are going to nationalize the banks, the world was ending. the market's up 140%. give me a break. lou: as you look at this market right now. and i don't think many people argue with your perspective. the reality is that this -- this market keeps climbing a wall of worry, but i mean, i am so
fascinated by the number of people keep trying to talk down the market. and they do so in the most dramatic of fashion. we're going to see a 10 percent correction. no. we can top that. a 20 percent correction. what is your judgment in all seriousness for these equities for the rest of the year? >> look, the years, i have said this before. the year is going to be u. there will be a correction between now and the fall which always happens. if you plot this thing seasonally, that is how the game works. the market will correct fiver 10%. there will be some reason, but in my view the monetary stimulus from the fed has been the key. the fed chairman has told you he ain't stopping. lou: one of the nicest in the history of the country. >> been great. lou: thank you for bei with us. we appreciate it. up next, governorndrew cuomo
citing scalled statistics to make his point supporting his anti-gun agenda and law. the status turns out they're not on his side. we will have the stats and the truth. the truth lives here in the "chalk talk." we will bring you this story quite psibly. you're going to love this. and the defense on the offense taking on the lead prosecutors conduct. my, my gooess. they are putting on quite a show for arrest. as seemingly unending show. we will have that and a great deal more in "dobbs law" next.
just flat-out lying to the american people and begin they will get away with it simply because the national media has taken a holiday from its role as watchdogs and holding accountable public officials. now, you're on this broadcast we are all about facts. here in the "chalk talk" we are all about truth. earlier this week new york's governor andrew cuomo claimed he was as well to read here is what he said about the national rifle association. it is never about the facts with them. it is about the fear. that is what they sell, even more than guns. here. the governor made those remarks hours after nra chief wayne lapierre had bee on nbc's meet the press saying this. >> in the holdup right now all national news media and the white house, i just got the track data from syracuse university on enforcement of
federal gun laws. last out was here i brought it. it just came out in 2012. dino or chicago ranks in terms of enforcement of the federal gun laws? out of 90 jurisdictions in the country they break 90's. lou: the release that report to the public today. what do you know? we are going to hold folks accountable because, as we say, the truth does live here. governor cuomo is the one it does not have his facts straight. wayne lapierre spoke the truth. he does have the facts straight. chicago in the syracuse report ranks dead last. ninetieth, 90th in the country . the mayor talking about gun violence. is the murder capital of america. prosecuting federal gun crimes.
the city with the nation's toughest gun laws is not enforcing laws on the books. the second worst gun law enforcer is los angeles. los angeles comes in 809th. the third worst, new york city. why is the mayor sitting in washington d.c. talking nonsense with the president of the united states. why shouldn't you be talking with eric holder about what they're doing. eighty-eight. these of the same people playing politics and exploiting tragedy, folks. the city with the mayor who is now spending millions of his own money trying to restrict the second amendment of every citizen in this country watches his city as it fails in prosecuting federal gun crimes. you know who else is in prosecuting felons and fugitives? the obama administration. this is the administration of the president is sincere with a
tear as i. after all of the caterwauling they're going to roll back our constitutional rights. just as they say in 2010 and by the way, that is the latest year in which data is available. more than 15,700, 15,700 of those fugitives andelons who tried to illegally by a firearm in this country. so what do you think? that the federal government prosecuted 15,000 of those? 10,000? 5,000? , 500? the obama just brought a prosecuted out of 15,700 exactly 44 of them. forty-four. succeeded in punishing 13. i want to see another photo opportunity, see another speech
from this president, hear more of the bowl being pushed by these elected officials to decided that the problem other rights that you and i have as a result of our constitution. back to the president's hometown of chicago, remember in december when wayne lapierre called for armed guards and every school. mayor ron emanuel's office released a statement saying, it is outrageous and unsettling that the nra would choose to address gun violence, not by taking assault weapons off our streets, but by adding more guns to our schools. did you know that uniform chicago police officers are actually stationed at each of that city's roughly 100 public schools? the chicago public school system
spans just about $41 million each year for school security personnel. did you think the mayor misrepresented facts? to you think he lied? and does this tell you all you really need to know about our elected officials, our public servants, all we need to know about the lying. i will leave it there. american psycho killers. psychotherapist. their analysis. bigmouths chicago teachers union head has bragged about her use, tend to be had the rich. wait until you hear what she has to say about parents.
the blade runner is free to run after a shocking court ruling. "dobbs law" takes it up next. ♪ [ shapiro ] at legalzoom, you can take care of virtually all your imptant legal matters in just minutes. protect youramily... and launch your dreams. at legalzoom.com we put the law on your side. busy ihere. yeah. prressive mobile is... [ "everybody have fun tonight" plays ] really catching on! people can do it all! get a quote, buy and manage your policy! -[ music stops ] -it's great! well, what's with the... music resumes ] -music? ♪ have fun tonight dude. getting a car insurance quote. i'll let it go to voicemail. [ clears throat ♪ everybody wang chung tonight ♪
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plus get this document shredder free-- but only if you act right now. call the number on your screen now! ♪ lou: police in northern california are searching for a man described as the world's worst robber. you've got to watch this surveillance video carefully, showing a man. as you see, you may not have noticed, he is wearing pajama pants. he forgot to put on his mask. he came back. he -- he covers his face once and then throw rocks at a grocery store, cracked the glass doors, set off an alarm and then decided, that's right, he's gone. he ranway. he could not even do that right. it turns out he tripped and fell down in the parking lot. even the store's owner said he found the robbery attempt very comical. he does remain at large tonight.
fireworks inside the court room. the murder trial today goes on. defense attorneys claiming prosecutor juan martinez has engaged in misconduct, accusing him of posing for pictures with fans and signing autographs outside the court. joining us now, courtney belsen, orange county california criminal defense attorney. great to have you with this. former federal prosecutor. good to have you with this. let's start with you. i mean, this trial. is there an end in sight? >> about two months out would say. lou: two months? >> i'm guessing. it is a painful, painful process. i think that people should understand this is not typical. we should also sign up for jury service. it is a painful, a terrible trial to watch. lou: is this a failure of a judge to control the trial? what is this? >> absolutely right. when you go back to the simpson
trial, o.j. simpson, number of federal judges told me privately, this is a disgrace. in my courtroom this thing would have been f weeks and you hit it right on the head. it is up to the judge to umpire the trial and keep it moving in my opinion. lou: a day in court without the jury present should point out, a defense attorney brought up the fact that prosecutor martina's, by the way, apparently something of a rock star and has had more exposure than most rock stars, posing for photos outside the courthouse with fans planning a prosecutor thereby was misconduct. you agree? >> i don't think misconduct. i think it was bad taste. he had a job at hand, try the case, and he should leave all that signing to somebody else. it is immature. it is silly. >> a little fine a point on a pencil. i do agree that it's not misconduct. however, let's say he is posing for pictures and signing
autographs knowing that the jurors watching him. that's problematic, but there is no evidence of that apparently. >> to wanted his autograph, that's what i want to know. lou: legal fans. >> and not a fan. lou: you're not a fan? >> says his autograph go up in value? how does it work in the legal profession? >> a first-year law student could try the case in my opinion. lou: i have to say that the defense has been at the very least, can we call them dogged if not effective. let's go very quickly to oscar, a south african court giving this man accused of murdering his girlfriend, letting them just -- his own recognizance, your is your passport and it's a wrap. with that happen? >> we were discussing this. the reality is that that is the key point. the average murder defendant is not getting the right.
have been doing this a long time and very open, very stringent. travel restrictive, surrender your passport. having said that, i will throw the argument in wch is obviously bail is separate from gaylord -- guilt or innocence and it is just a matter whether he will show up of people saying he is not a risk of flight. lou: a case, you now have the defendant of attemptedurder. , the lead deteive is charged with murder. so is the dependence brother. this is not get more confounding >> and i think this is not in the wing from the judge. get going. comeback. it is i heard of. you don't the people that are accused of murder travel the world freely. you'll never get them back. lou: you're going t watch and see. we are delighted to have you both with us.
if you wan to join the conversation got coach said loudobbs.com. up next, and nearly half mile long landslide leaving houses teetering on the verge of, well, what would that be? going over the edge. survival, seattle's aisle next. ♪ [ engine revving ] ♪ [ male announcer ] every car we build must make adrenaline pump and pulses quicken. ♪ to help you not just stay alive... but feel alive. the c-class is no exception. it's a mercede-benz, through and through. see your authorized mercedes-benz aler for exceptional offers through mercedes-benz financial services.
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and they just sit there. when was the blow the whistle? now -- lou: last year she joke about drawing inspiration from a labor leaders of the late 1800's and be heading the rich. >> the labor leaders of that time were never killed. they weren't. there were seriously talking about that. another thing the last that. lou: is going to have to check out her american history little closer than that. the year before she bragged about spending trichology ears smoking pot. >> let me tell you, i spent those years smoking lots of read , self medicating. i'm sorry. there are kids here. i was not supposed to say that. too late.
lou: that is the head of the 3000 members to kagan teachers' union. you know, the ones out demonstrating in protesting against the mayor's plan to close 54 of those schools in a school that has lost about 100,000 pupils. studding-cam video or a firefighter was nearly killed during a highway pileup. who is in dayton ohio, responding into an accident. slammed into a truck. then hit the firefighter. thrown 20 feet into the air. here is the moment of impact again. there he is. incredibly, a firefighter not only survived, he suffered only minor injuries. extraordinary and extraordinary results.
well, a community overlooking washington state's puget sound under an evacuation order tonight one day after a thousand foot landslide this story to homes. officials say that slight is still, as they put it, extremely active and extremely, interesting choice of words and at least five other homes are in and -- feminine danger. authorities had to rest "lou dobbs tonight" residencies hom were cut off from the landslide damage drove. here's a look at that never before and after. geologists' reportedly blaming the slide on the glacier that received some 15,000 years ago leaving behind an unstable earth because it was stable until now. up next reports showing the mental heah of the sandia and tucson shooters in question prior to their murderous rampages. we take it up in the "lou dobbs forum." two leading doctors next. ♪ [ buzzer ]
♪ lou: investigators reased search warrants in the new town shooting. authorities seized an arsenal of guns, sores, knives from the home of ntown shooter and his mother nancy as well as more than 1,000 rounds of ammunition, books on autism and as burgers and a holiday card containing a check to buy a firearm. joining us now to give us some guidance as we look at what is happening in the realm of mental health and efforts to control violence, a psychotherapist dr. rob ludwig and psychologist dr. jeffrey guard there. thank you both for being here. let's start with the very idea
after all of this time since the moment of the newtown massacre, the president is seems to be tearing up. there is sti not a discussion about mental health and its relationship to the shooters, all of which we know to have been mentally disturbed. i'm talking about from colorado to newtown connecticut. why in the world are we not. >> some people are trying to bring it up as a discussion. there has to be changes legally in terms of how we handle these people who are violence. how do we make sure that they get the care that they need? right now in some cases it's harry hard if you even hospitalize somebody to actually keep them in the hospital due to insurance policy. so there are a lot of things that need to change before we can treat the violence mentally ill population appropriately. >> the other part of that is we don't want to stereotype because
there are so many people who do have mental illnesses, schizophrenia, bipolar disorder, auti. >> we stay ay from it. >> and we don't want to make generalizations that can legitimately hurt people. lou: to answer your question mental illnesses signifies -- stigmatize. lou: you're both talking about effectively political correctness, hypersensitivity to sensitive people who, perhaps, should receive less, well, deference on a politically correct basis and a helluva lot more treatment from professionals like yourself. >> absolutely. >> and there not obviously getting it. lou: at least in the six tragic instances, and we have a discussion about rolling back the second amendment rights of 300 million americans. >> for also looking at doing background checks and taking a look at people's mental health issues. the thing is to know we are just
as scapegoating, and that is the important thing. we want to take the focus of the fact. lou: every gun owner in america is being scapegoating, for crying out loud. >> people who are violent to do not have mental health issues and crimes being committed every day from people who are not mentally ill. lou: you will come back with the doctors in a moment and talk some psychology, and it sounds like we will talk a little politics, too. this is america. we don't let frequent heartburn come between us and what we love. so if you're one of them people who gets heartburn and then treats day afr day... block the acid with prilosec otc and don't get heartburn in the first place! [ male announcer ] e pill eachmorning. 24 hours. zero heartbur and don't get heartburn in the first place! ♪
lou: breakining news tonight, former customs and bored protect ofcer in california has pleaded guilty to bringing in illegal immigrants for financial gain, we used to call that smuggling, hector rodriguez received bribes. it sounds like he brought in a lot of illegal immigrants. that in exchange for letting them enter unlawfully. we want to deal with this carefully, rodriguez worked at
an inspection lane at san ysidro port of entry, he faces up to 35 years of prison, let me get this right, the corruption is not just on southern side of the border. it is on both sides, we found one guy they convicted amazing, we're back. we're talking about the political correctness, politics of this. you know, let's put away our partisan viewer and talk about the idea this mentally disturbed young man, his mother, with the gun she taught him to shoot. what in the world could she be thinking. >> you hear that, what was wrong with this mother. but it was probably the only way she could connection with this
kid. she had a kid that could not connection with the world, it is possible, at at the time she was teaching him he was not as disturbed, and progress ofly got worse, and -- progres progressit worse and he was not able to hospitalize him. >> he found out, and that is what we know, it may have touched off that rage, he had a cache of guns, and weapons and knives. he was playing those games, he is listings of other mass shootings, what we think is that he really wanted to one-up everyone and was going to take that rain out of being -- rage out of being committed against his mom and against innocent victims. lou: how in the world can we convince our elected officials to deal with the real cause of the tragedies, we have a president running around misrepresenting what is going on. you have people exploiting tragedy, in point of fact we are
not dealing with the real issue, which is mental health, why are the professionals not saying -- they are. >> they are screaming out, they are writing articles, they are saying please help us, we need to destigmatize mental health. lou: how about d destigmatizing our politicians, and have them tell the truth, in each case, it is about a a mentally disturbed person. >> let's help people, let's protect people, not the bottom line that money that comes into the coffers. lou: jeffrey thank you, and doctor we appreciate you being here, and we thank you a well, we thank you for being with us, coming up tomorrow could president of national immigration and customs enforcement council. chris crane will join us, he has been frozen out of the